Swaps Solution
Problem
The process of resolving Portfolio Swaps is highly manual and ineffective. Data and information should be continuous, however every Swap Provider has their own data set resulting in a non-standard and often fragmented process. The lack of effective communication tools around identified issues compounds the resolution difficulty. Cash flow differences are only addressed at settlement creating a concentrated, time consuming investigation effort at the end of the swap cycle.
Solution
AccessFintech provides real-time Swap trades and events synchronisation on Equity positions, financing, unwinds, dividends and cashflows. On the Synergy Network you can publish all trades and events on a daily basis enabling you to collaborate on datasets for repair. Data sets are normalised across all swap providers in real time providing transparency and facilitating trades and events repairs before cashflow payment dates.
Benefits
- Identify potential errors daily to avoid periodic reset discrepancies
- Timely, smoother cashflow exchange between parties
- Avoid funding and overdraft charges
- Distribute workload across the entire cycle and eliminate Operational workload issues at reset
- No P&L lock up / delays
- No need for historical analysis to investigate and resolve issues
Pre-matching and Settlements
Problem
Trade Management exception workflow is currently reliant on significant email, excel and telephone interactions across participants. Multiple internal and external systems are in use across the market.
Solution
Real time exception pairing between counterparts assists in collaboration/investigation, resolution of exceptions via the AccessFintech platform with no requirement for email. Instruct via our platform using APIs connected to the source system. Your complete lifecycle is supported and including booking, confirmation, pre-matching, fails and settlement.
Benefits
- Reduced processing time
- Reduced risk
- Improved oversight
- Underlying system retirement
Loan Data Management
Problem
The Syndicated Loans market suffers from a lack of transparency around agent data. There is significant email traffic associated with requesting and confirming data. The absence of data reconciliation leads to incorrect payments and associated kickback and rework.
Solution
With AccessFintech you can ingest and normalize data across all agents/lenders, providing a self-service tool for lenders to see all of their contract level data. Agents benefit from significant reduction in queries. All parties have access to collaboration and workflow tools to assign ownership and collaborate on discrepancies to resolution.
Find out moreBenefits
- Data aggregation
- Normalisation and transparency
- Reduced email traffic
- Streamlined process
- More efficient process for all parties involved
Standard Settlement Instructions (SSI's)
Problem
Many settlements fail due to incorrectly formatted settlement instructions, stale SSI’s or SI’s. Updating SSI’s onto Firms’ reference data platforms or repositories is operationally inefficient and delays releasing trades to the market if updates are required. Existing repositories do not cover all of the client base and as the industry focuses more on pro-active inventory management, we are seeing more clients utilizing a model of dynamic per trade SI / non-standard SI.
Solution
Global Transactional Data on T-0 enables counterparties to manage SI's per trade on T+0. AFT Synergy platform’s data collaboration allows the client to consume the SI per trade and enrich their own trades using the custodian’s/PB’s/Broker’s SI for that trade. SI feeds back into the Client’s platform real-time to enrich the trade and release to the market avoiding costly CNC’s and positioning the trade ‘Ready to settle’ earlier in the lifecycle. Synergy Exchange is open to partnering with internal and external SSI repositories to enrich or validate SSI static data.
Benefits
- Prevent SSI breaks
- Real-time transaction repairs
- Repository Collaboration
- Increase Ops efficiency
- Prevent fails & regulatory sanctions
- Improve funding forecasting
Dispute Claims Management
Problem
Claims Management processes currently require significant manual effort and are reliant on email communication to manage and resolve disputes. Lack of transparency into lifecycle events means investigation to identify fail reason is difficult.
Solution
AccessFintech allows organisations to identify, raise and manage claims processes through a single UI, with a comprehensive and time-stamped audit history to support investigation.
Benefits
- Reduced Manual Investigation
- Minimised Processing Effort
- Faster time to dispute resolution
T+1 Settlement
Problem
The settlement window in different markets is now beginning to reduce to a T1 settlement cycle. This means less time to manually review and correct discrepancies and mismatches prior to settlement date. Inefficient process, combined with less time, opens up risk of increased fail rates and more market penalties.
Solution
Automated investigation and fail prediction using Synergy Pairing eliminates manual effort in investigating issues. Data and workflow collaboration ensures that all transaction stakeholders are aligned and working smoothly, in real time, together.
Find out moreBenefits
- Reduced fail rates
- More efficient processing
- Automated investigation
- Increased settlement rates
- Minimised manual effort
CSDR & Penalty Management
Problem
The incoming CSDR regime will enforce settlement discipline for all finance organisations settling trades in Europe. The regulation will introduce daily penalties against all eligible trades as well as mandatory buy-ins.
Solution
A full lifecycle solution through a single infrastructure supports fail minimisation, CSDR eligibility determination, buy-in and penalty calculation. AccessFintech also provides direct connectivity to buy-in agents and reference and pricing data.
Find out moreBenefits
- Single platform
- End to end lifecycle management
- Reduced risk
- Increase efficiency
- Multi-stakeholder management
- Seamless regulatory adherence
Cash Payment Matching
Problem
Payment management is often manual and reactive, resulting in overdrafts/claims due to late application of payments and mismatched amounts.
Solution
AccessFintech provides the aggregation and publication of payment data prior to pay date to facilitate payment matching. We provide real time exception pairing which reduces erroneous and missed payments by allowing participants to collaborate via the AccessFintech platform. You can instruct via the platform using API’s connected to the source system. We support adherence to FIX-led derivative payment protocol.
Find out moreBenefits
- Reduced risk
- Reduced reconciliation
- Reduced rework
- Improved oversight
Clearing Securities
Problem
Gross Bi-lateral securities’ settlement is expensive, operationally inefficient and more likely to fail than compressed cleared trades. These trades carry more Counterparty Risk than cleared transactions and can limit trading limits due to carrying gross open trade positions against individual counterparties.
Solution
AccessFintech facilitates bi-lateral settlements being novated to Central Clearing (CCP). Our Clearing eligibility engine pro-actively collaborates across CCP requirements and all participating parties’ settlements to pair, validate and instruct them for clearing at the participants’ preferred clearing house.
Benefits
- Reduced agent bank fees
- Reduced fails & Regulatory penalties and bilateral claims
- Increased Operational efficiency
- Reduced Counterparty Risk
- Increased utilisation of Trading limits with counterparties
Repo Pair-offs
Problem
Market participants bi-laterally exchange spreadsheets, manually calculate pair-off values and do not have a central platform where economic terms are agreed and fails are addressed.
Solution
AccessFintech enables data aggregation, collaboration, and pair-off enablement. Our solution facilitates the “netting” of instructions for payments of cash and transfers of securities for repos, reverse repos, and cash not managed by a tri-party agent. Pair-offs are particularly helpful when rolling over a transaction, in which case, the parties would agree not to instruct securities settlement but instead pay or receive an agreed net cash payment.
Benefits
- Increased settlement efficiency
- Fail Reduction
- Increased Operational efficiency
- Reduced Risk
Repo Confirmation Gateway
Problem
Repo confirmation is supported by multiple vendors, with banks often connecting to more than one provider to support client preferences. This high cost process also leads to lengthy onboarding for providers. Each vendor then sends and receivers information in their own preferred format, leading to either more build or increased manual effort for the banks.
Solution
We provide access to multiple vendors via AccessFintech’s VendorGateway which reduces onboarding, distribution and build costs. We normalize repo data to multiple vendors and clients and aggregate exceptions from relevant vendors. You can see a collated view of repo exceptions across clients and vendors.
Benefits
- Reduced onboarding
- Distribution and build costs
- Streamlined process
- Reduced cost of processing
Inventory Stock Record
Problem
The market suffers from a lack of availability of inventory data across organisations. There is a high volume of email traffic and multiple system log-ins to check inventory statuses. Frequently, trade settlements fail due to inventory management delays.
Solution
AccessFintech provides a collated view of inventory information across your entire organisation including depot and stock on loan details. Open trades per security queried are displayed alongside inventory information to support fail prevention through informed requests.
Benefits
- Reduced mail traffic
- Reduced processing time
- Reduced risk
- Efficient oversight of inventory
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Find out how AccessFintech’s Synergy Network can support your organisation